Lease Portfolio Manager

3 weeks ago

New York City, United States Shake Shack Full time

Job Summary

Responsible for maximizing the value and performance of our real estate portfolio, through effective management, analysis and strategic decision making. Primary responsibility is monitoring and transacting on the company's extensive portfolio of real estate leases to ensure critical date deadlines are met and addressing other lease related issues that arise, after lease execution. Lease Portfolio Manager also will ensure all final documents are approved and properly executed by multiple levels of management.

Job Responsibilities and Duties

• Build program to ensure extensions align with capital forecast and sales projections.

• Prepare the strategic plan for future renewals after analyzing current/historical sales trends and planned openings.

• Maintain a master lease tracking status report to ensure the appropriate action is taken by deadline date or ensure an extension is secured.

• Oversee such program and ensure that lease actions remain in-line with the prevailing market by negotiating directly with landlords and their representatives (such as real estate agents, lawyers, and property managers) to achieve reductions in rent liability and/or other desired lease modifications benefiting the company.

• Provide Finance with Proforma information for lease actions with an ability to understand P&L results on rent structures and capital spend all relative to company performance.

• Build lease action data sheets for Senior Management’s review and approval.

• Provides quarterly updates on the status of all negotiations to various in-house parties.

• Collaborates with Director of Lease Administration/ Asset Management to determine course of action on critical lease action negotiations and early renewals of Leases.

• Partner with Director and Real Estate Managers to discover revenue saving strategies on existing leases.

• Engage in negotiations (both written and verbal) with the company's landlords, as directed by the Director of Asset Management and Deal Managers, to achieve desired modifications to real estate leases.

• Prepare and review in collaboration all supporting documents (e.g., subleases, exhibits, addendums, tenant improvement work letters, amendments/extensions, etc.) to accurately reflect the mutual agreement of both landlord and tenant. Perform quality control checks of all completed transactions.

• Interpret and advise management on all terms of real estate leases and related documents (modifying such documents as needed) supporting lease compliance and lease administration and ensuring lease database system (Lucernex) is accurate and complete through auditing and updates.

• Collaborate with key internal stakeholders including Finance, Construction, Legal and Store Operations, to ensure seamless execution of real estate projects.

Knowledge, Skills, Abilities:

• Bachelor's degree and/or paralegal certificate preferred.

• Minimum of 5 years of experience in real estate portfolio management and/or real estate lease transactions in a retail/restaurant organization

• Extensive experience reviewing and/or drafting and negotiating commercial real estate leases and related legal documents.

• Exemplary verbal and written language and grammatical skills, including the ability to interpret and abstract complex lease documents, independently draft real estate related legal documents, and negotiate final lease terms with landlords and their attorneys.

• Must be highly organized and able to manage multiple projects and be extremely detail-oriented.

• Advanced analytical skills coupled with an ability to interpret data, communicate findings and

propose recommendations.

• Strong business acumen with a focus on retail real estate.

• Ability to self-manage and prioritize multiple projects.

Related Experience

• Effective communication - effective oral and written communication.

• Financial knowledge - In-depth knowledge of financial terms and principles.

• Scope of responsibility - Ability to follow through with decisions made, and interpretation of procedures, company policies and business practices to achieve general results.

• Ability to conduct complex important work under minimal supervision. A proactive, solutions-driven approach.

About Us

Beginning as a hot dog cart in New York City’s Madison Square Park, Shake Shack was created by Danny Meyer, Founder and CEO of Union Square Hospitality Group and best-selling author of Setting the Table. Shack Fans lined up daily, making the cart a resounding success, and donating all proceeds back to the park beautification efforts. A permanent stand was eventually built…and the rest is Shack history With our roots in fine dining and giving back to the community, we are committed to high quality food served with a high level of hospitality. Our team members enjoy a positive work environment that is deeply committed to the philosophy that we "Stand for Something Good."

We are expanding across the U.S. and around the world Join our #ShackFam

Shake Shack is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, ancestry, national origin, religion, creed, age (over 40), disability (mental and physical), sex, gender identity, sexual orientation, gender expression, medical condition, genetic information, marital, military and veteran status.

Our company will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of applicable laws.

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